Skit

Skit.ai, founded in 2016 as Vernacular.ai, operates in the conversational AI sector, providing a SaaS-based Augmented Voice Intelligence Platform to enterprises. The company was established in Bengaluru, India, by Sourabh Gupta and Akshay Deshraj, both alumni of IIT Roorkee. The founders identified a critical gap in the customer service industry, where high investment in contact centers did not translate to positive customer experiences, often marked by long wait times and inefficiency. Their objective was to automate a significant portion of routine calls using voice AI, thereby improving operational efficiency.

The firm's core offering is a platform that automates contact center conversations, initially focusing on voice and later expanding to an omnichannel approach that includes SMS, email, and chat. This platform is designed to handle customer queries with human-like interactions, supporting numerous languages and dialects. Skit.ai's technology is particularly focused on the accounts receivables and debt collections industry, offering solutions for first and third-party collections, early-out collections, and creditor services. By automating tasks like right-party contact verification and payment negotiations, the platform allows human agents to focus on more complex issues. The business model is primarily subscription-based, serving global enterprises across industries such as auto finance, healthcare, banking, fintech, and travel.

Skit.ai has achieved significant milestones, including securing a total of $47.6M in funding over five rounds. A key Series B funding round in 2021, led by WestBridge Capital, raised $23 million and facilitated the company's rebranding from Vernacular.ai and its expansion into the U.S. and Southeast Asian markets. This strategic growth included establishing a presence in New York City. The platform leverages Generative AI and Large Collection Models (LCM) to analyze consumer data and predict collection propensity, which helps in optimizing outreach strategies. This data-driven approach allows for the personalization of customer interactions across their preferred channels, aiming to improve engagement and revenue recovery.

Keywords: conversational AI, voice automation, contact center automation, debt collection AI, accounts receivable software, customer service AI, omnichannel AI, Sourabh Gupta, Akshay Deshraj, AI-powered collections, voice AI platform, natural language understanding, SaaS, enterprise software, financial services technology, revenue cycle management, automated customer engagement, intelligent voice assistant, machine learning, call center optimization, fintech solutions